'Concentric circles' refers to lines on the coin inlay that occur due to polishing the dies. If present, they will appear over the full face of the inlay. I don't see them on your example.

Some maintain that all coin inlay chip originally had concentric circles and if you don't see them, they were worn off the chip. I don't think so. I think the wear occurred on the coin-dies and later production of this type chip had dies worn smooth and no 'concentric circles'.